Algert Global LLC Sells 3,800 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Algert Global LLC reduced its position in Cryoport, Inc. (NASDAQ:CYRX) by 5.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 64,675 shares of the company’s stock after selling 3,800 shares during the period. Algert Global LLC owned about 0.13% of Cryoport worth $447,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cadian Capital Management LP boosted its stake in shares of Cryoport by 30.4% during the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock worth $53,659,000 after acquiring an additional 807,340 shares during the period. AXA S.A. boosted its position in Cryoport by 274.2% during the second quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Cryoport in the first quarter valued at $2,905,000. BNP Paribas Financial Markets raised its position in shares of Cryoport by 155.9% in the first quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company’s stock valued at $1,463,000 after purchasing an additional 50,355 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of Cryoport during the 2nd quarter worth about $774,000. Institutional investors own 92.90% of the company’s stock.

Insider Buying and Selling

In other news, Director Ramkumar Mandalam sold 4,167 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total value of $33,502.68. Following the completion of the transaction, the director now directly owns 56,032 shares in the company, valued at approximately $450,497.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 7,167 shares of company stock valued at $60,363 over the last quarter. 10.10% of the stock is owned by company insiders.

Cryoport Stock Down 0.1 %

NASDAQ CYRX opened at $7.88 on Tuesday. The company has a market cap of $388.15 million, a price-to-earnings ratio of -3.19 and a beta of 1.60. Cryoport, Inc. has a 1-year low of $5.32 and a 1-year high of $20.10. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97. The company has a 50 day moving average of $8.40 and a 200-day moving average of $10.95.

Cryoport (NASDAQ:CYRX) last released its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The company had revenue of $57.60 million for the quarter, compared to the consensus estimate of $57.65 million. During the same quarter in the previous year, the company posted ($0.42) earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that Cryoport, Inc. will post -1.63 earnings per share for the current fiscal year.

Cryoport declared that its board has approved a share repurchase program on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 49.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on CYRX. Needham & Company LLC decreased their price target on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. B. Riley raised Cryoport from a “neutral” rating to a “buy” rating and decreased their target price for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. UBS Group dropped their price target on Cryoport from $17.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and decreased their price objective for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cryoport currently has an average rating of “Hold” and an average target price of $11.60.

Cryoport Profile

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.